Vance County Real Estate and Livability Trends
In Vance County, North Carolina, average taxable income rose remarkably from $37,667.08 in 2013 to $47,514.44 in 2021, showcasing potential attractiveness for investors and residents alike. Median home values saw a 35% increase from $97,900 in 2015 to $133,000 in 2022, although still below state and national averages. Notably, property crime rates have decreased, potentially drawing new residents... Read more
Vance County Market Trends
In Vance County, North Carolina, median home values rose from $97,900 in 2015 to $133,000 in 2022, a notable 35% lift but still behind the state and national averages. Residential energy tax credits per return have surged, hinting at increased adoption of energy-efficient upgrades. Real estate taxes have also climbed, from about $2,029.31 in 2012 to roughly $2,944.26 by 2021, indicating rising... Read more
Median Value of Occupied Housing Units in Vance County, North Carolina Over the Last 8 Years
Over the past eight years, Vance County, North Carolina, has seen a substantial uptick in median home values from $97,900 in 2015 to $133,000 in 2022. This local trend, reflecting a 35% increase, contrasts with both the state and national markets, which saw even steeper climbs of 52% and 43%, respectively. For those considering investments or relocations, it's evident that while Vance County remains more affordable than broader averages—North Carolina at $234,900 and the United States at $179,400 in 2022—the gap is narrowing. This may suggest growing appeal and potential appreciation for property owners in Vance County.
Residential Energy Tax Credit Per Tax Return in Vance County, NC Over the Last 9 Years
Over the last nine years, Vance County, North Carolina has seen a steady increase in the average residential energy tax credit per tax return, rising from $650.00 in 2013 to $2021.05 in 2021. This trend highlights growing homeowner investment in energy-efficient upgrades, likely influenced by increasing climate awareness and fiscal incentives. It suggests a favorable environment for businesses involved in green energy solutions and can potentially stabilize or increase property values, making the area attractive for real estate investors, developers, and insurance agents focusing on energy-efficient homes.
Average Real Estate Taxes Per Tax Return in Vance County, NC Over the Last 10 Years
Over the past decade, real estate taxes per tax return in Vance County, North Carolina have exhibited a general upward trend, starting from around $2,029.31 in 2012 and rising to approximately $2,944.26 by 2021. Notably, there was a significant jump between 2017 and 2018, where average taxes increased from about $2,341.67 to $2,915.29. This surge might interest potential investors and property developers as a marker of rising property valuations. For real estate agents and appraisers, these trends could influence market assessments and property pricing strategies. Insurance agents and current residents may also need to consider these increasing taxes in their financial planning.
Percentage of Farm Returns in Vance County, NC Over the Last 10 Years
The percentage of farm tax returns in Vance County, North Carolina has generally seen a steady decline over the last decade. Starting at around 1.30% in 2012, it has dipped to approximately 0.79% by 2021. This trend might indicate a shift away from traditional farming activities or changes in the local economy that haven't favored agriculture as much. For potential investors, homebuilders, or those considering moving to the area, these changes could reflect broader economic transitions that might influence property values and market opportunities. Farm tax returns are typically filed by farm owners to report income and claim deductions, so fewer returns could suggest fewer active farms or farming incomes that don't meet filing requirements. This suggests a potential shift in land use or economic priorities in Vance County.
Number of Mortgages by Occupancy Type in Vance County, NC Over the Last 5 Years in Vance County
Over the last five years in Vance County, North Carolina, principal residences have consistently dominated the mortgage market, with a notable jump from 982 in 2018 to 1730 in 2021 before a slight decrease to 1422 in 2022. Investment properties and second residences show more modest and relatively stable numbers, with some fluctuations—investment properties, for instance, peaked at 116 mortgages in 2022. Understanding these trends can help investors predict market demand and target their investments more effectively. Moreover, insurance agents, appraisers, and real estate professionals can utilize this data to better assess risk, property valuation, and market dynamics. For those considering a move, the prevalence of principal residences might suggest a stable, community-oriented environment.
Economic Outlook
In Vance County, North Carolina, average taxable income has steadily increased from $37,667.08 in 2013 to $47,514.44 in 2021, with a notable $5,000 jump between 2020 and 2021. This could make the region attractive for investors and potential residents. Additionally, average state and local income taxes have risen from $4,666.78 in 2017 to $7,854.79 in 2021, hinting at rising incomes and economic growth. However, average total tax liabilities have fluctuated, showing peaks in 2016 and 2021,... Read more
Average Taxable Income per Tax Return in Vance County, NC over the last 9 years
In Vance County, North Carolina, the average taxable income per tax return has shown a gradual increase over the past nine years, starting at $37,667.08 in 2013 and climbing to $47,514.44 by 2021. This upward trajectory, although not completely linear, still suggests a positive trend in the region's economic health, making it potentially attractive for investors or those considering a move. The most significant jump seems to have occurred between 2020 and 2021, where the average taxable income rose by over $5,000. This trend could impact real estate valuations, insurance premiums, and overall market activity in the area.
Average State and Local Income Taxes Per Tax Return in Vance County, NC Over the Last 10 Years
Over the past decade, Vance County, North Carolina, has experienced fluctuating but generally increasing average state and local income taxes per tax return. Particularly notable is the significant upward trajectory from $4,666.78 in 2017 to $7,854.79 in 2021. This growing tax burden may signal rising incomes and economic growth in the region, making it an area of interest for investors, real estate agents, and potential new residents. However, it also emphasizes the importance of thorough financial planning, especially for those looking to appraise property or manage insurance within the county.
Average Total Tax Liability Per Tax Return in Vance County, NC Over the Last 10 Years
Over the past decade, Vance County, North Carolina has seen fluctuating average total tax liabilities per tax return, with notable peaks in 2016 ($6473.86) and 2021 ($6588.66). Generally, the tax liability trended upward, which could reflect several factors including changes in local economic conditions and tax policies. Variations during certain years, like the low in 2013 ($5347.57) and the subsequent rise in 2014 ($6174.49), could be of interest to investors and residents seeking to understand the financial climate and tax burden implications. Real estate agents and property developers might also find these trends useful in advising clients about the area's fiscal environment.
Cost of Living in Vance County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,040 | $1,335 | $1,875 | $1,259 | $1,113 |
| 1 adult 4 children | $1,040 | $1,090 | $1,435 | $1,259 | $1,201 |
| 2 adults 3 children | $1,040 | $1,091 | $1,627 | $1,259 | $900 |
| 1 adult 3 children | $1,040 | $890 | $1,186 | $1,259 | $924 |
| 2 adults 2 children | $804 | $893 | $1,378 | $1,102 | $773 |
| 1 adult 2 children | $804 | $667 | $938 | $1,102 | $696 |
| 2 adults 1 child | $804 | $706 | $1,130 | $589 | $706 |
| 1 adult 1 child | $804 | $456 | $689 | $589 | $588 |
| 2 adults | $648 | $567 | $881 | $0 | $574 |
| 1 adult | $644 | $309 | $441 | $0 | $519 |
Safety trends & Data
Property crime in Vance County, North Carolina has shown fluctuating trends, with burglary incidents dropping from 62.00 in 2018 to 27.00 in 2022 and larceny-theft declining from 178.00 to 90.00. This downward trajectory in key property crimes could potentially lure real estate investors and new residents aiming for safer communities. However, inconsistencies in embezzlement and forgery incidents suggest ongoing attention from local authorities may be... Read more
Property Crime Trends in Vance County, NC Over the Last 5 Years
Property crime in Vance County, North Carolina has displayed fluctuating trends over the last five years, with noticeable reductions in categories like burglary and theft. Burglary incidents dropped from 62.0 in 2018 to 27.0 in 2022, while larceny-theft saw a significant dip from 178.0 to 90.0 over the same period. Although vandalism arrests initially reduced, they remained consistent in recent years. The data suggests potential downward trajectories for key property crimes, which could attract real estate investors and new residents seeking safer communities. However, embezzlement and forgery incidents show inconsistencies, indicating areas that might still require attention from local authorities and insurance agents.
Demographics
Vance County, North Carolina, presents a nuanced demographic landscape. The adult population shows a slightly higher female count than male. Educational attainment levels suggest that while a noticeable portion of the community achieves high school graduation, there’s a considerable gap before reaching college degrees. Age distribution is fairly spread, but an aging trend appears, with significant portions in the 55-64 and 65-74 age brackets. The racial composition is diverse, with a nearly... Read more
Race Distribution in Vance County, North Carolina (2022)
Educational Attainment in Vance County, North Carolina (2022)
Age Distribution in Vance County, North Carolina
Citizen Population in Vance County, North Carolina (2022)
Political Trends & Data
Vance County, North Carolina exhibited a strong Democratic preference in the 2020 U.S. Presidential Election, capturing around 59.2% of the vote, while Republicans secured about 39.96%. The minimal vote shares for Libertarians and Greens signal that third-party influence remains limited in this area. This Democratic leaning might suggest underlying regional or even broader political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Vance County, North Carolina displayed a notable leaning toward the Democratic Party in the 2020 U.S. Presidential Election, with nearly 59.2% of votes cast in their favor. Republicans trailed behind at approximately 39.96%, while smaller parties like the Libertarians and Greens garnered minimal support, each polling under 1%. This trend suggests a significant Democratic presence, possibly indicative of broader statewide or national patterns.
39.96% of voters voted for the Republican party in the 2020 Presidential Election
59.20% of voters voted for the Democrat party in the 2020 Presidential Election
0.45% of voters voted for the Livertarian party in the 2020 Presidential Election
0.11% of voters voted for the Green party in the 2020 Presidential Election
0.28% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the past decade, Vance County, North Carolina has seen fluctuations in its student-to-teacher ratio, peaking at nearly 20 students per teacher in 2021 before easing to about 18 in 2023. Compared to the national average of 14 students per teacher, Vance County's higher ratios might suggest challenges in providing personalized education. Families prioritizing education may find this data pivotal when considering a move, while investors could view these numbers as a chance to positively... Read more
Student-to-teacher ratio in Vance County, North Carolina over the last 10 years
Over the past decade, Vance County, North Carolina has seen fluctuations in its student-to-teacher ratio, peaking at nearly twenty students per teacher in 2021 before tapering slightly to nearly eighteen in 2023. This trend can be pivotal for potential investors, new residents, appraisers, insurance agents, builders, and real estate professionals. An increasing student-to-teacher ratio might suggest growing class sizes, which could indicate a tight school budget or rising student enrollment without commensurate increases in teaching staff. Compared to the national average of fourteen students per teacher, Vance County's higher ratios may signal challenges in providing personalized education. For families considering a move to the area, particularly those prioritizing education, this could be a valuable factor. Conversely, investors might see these numbers as an opportunity to influence local education initiatives positively.
